Magnetic Maharashtra: Convergence 2018

The Maharashtra government, with its ambitious plan to provide a huge fillip to its economy and industry, held its first-ever global investors summit ‘Magnetic Maharashtra: Convergence 2018’. The summit, with a catchy tagline ‘Made for Business’, was inaugurated by Prime Minister Narendra Modi on 18 February 2018.
The three-day event from 18 February 2018 to 20 February 2018 was held at MMRDA Grounds, Bandra-Kurla Complex (BKC), Mumbai. The summit focused on future industries, infrastructure, employment and sustainability.
The event saw some high investment intents from reputed companies such as Reliance Industries, Kalyani Group, Gems and the Jewellery Export Promotion Council (GJEPC), Nirmitee Robotics among others.
Many of the investors have chosen to invest in industrially backward tier III places such as Nanded and Parbhani in Marathwada, and Wardha in Vidarbha.
While Reliance Industries and its 20 global companies will invest over Rs 60,000 crore in the next 10 years, GJEPC inked MoU to set up India’s first gems and jewellery park at the cost of Rs 13,500 crore. Apart from this, Amol Yadav, senior commander with Jet Airways, inked MoU worth Rs 35,000 crore with MIDC to set up aircraft manufacturing company to build aircraft.

Nirmitee Robotics India Private Limited (NRIPL) has recently tied up with a 350 year old German Company Schuko Bad Augau GmBH and Co ( to provide indigenous technology to the European Markets.

The entire meeting was attended via teleconferencing by the MD of Schuko – Mr. Andre Schulte-Südhoff.

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Hyosung Group inked MoU with the state govt for the first Ultra Mega project in Aurangabad Industrial City (AURIC). The company has been allotted 100 acre of land. With a total investment of USD 200 million, the project will generate employment for 1,000 people.
In the power sector, the state government signed MoUs with Tata Power Co and ReNew Power Ventures for investments worth Rs 15,560 crore and Rs 14,000 crore.
Magnetic Maahrasthra